Ludington's Petition
New York Court of Common Pleas
Petition for an accounting. The facts were found as follows: I. On March 18, 1876, a resident of the city of New York, being indebted to various persons, made a general assignment for the benefit of creditors to the defendant.
Read the full summary
Petition for an accounting. The facts were found as follows: I. On March 18, 1876, a resident of the city of New York, being indebted to various persons, made a general assignment for the benefit of creditors to the defendant. The assignment was signed by both assignor and assignee, and acknowledged by both, on March 18, and was recorded on March 20, 1876. The assignment was in trust to sell the property and convert it into money, and to collect the debts ; and with the proceeds of such sales and collections to pay a preferred creditor a debt of $350; with the residue of the proceeds, to “…
1Opinion of the Court
Austin Abbott, Referee.
The petition recites a general assignment for benefit of creditors, and that the petitioner is a creditor of the assignor and interested in the distribution of the proceeds ; and asks an account of the trust fund and a decree directing payment of his proportional part.
The objections of the assignee involve several questions on the construction of the statute which depend, in part, upon the history of the law of assignments and of their judicial supervision, which it will be more convenient to notice first before passing on the specific objections.
At common law, and…
2Cases cited33 opinions
- Van Schoick v. . Niagara Fire Ins. Co.New York Court of Appeals · 1877
- Marbury v. BrooksSupreme Court of the United States · 1822
- Candee v. . LordNew York Court of Appeals · 1849
- Osgood v. FranklinNew York Court of Chancery · 1816
- Rinchey v. . StrykerNew York Court of Appeals · 1863
28 more not listed; retrieve them via the Exa API.
3Cited by4 opinions
- In re the Assignment of Whitney & KitchenAppellate Division of the Supreme Court of the State of New York · 1911
- Sweetser v. SmithNew York Supreme Court · 1889
- Smith v. Lehigh Zinc & Iron Co.New York Supreme Court · 1891
- Ætna National Bank v. ShotwellNew York Court of Common Pleas · 1891